Deal Fails to Satisfy Liberal Democrats

By

Sara Murray

Jan. 2, 2013 7:41 p.m. ET

A deal to avert the fiscal cliff and raise taxes on the wealthy left a sour aftertaste among some liberals who believe President Barack Obama wasted his political leverage by settling for a pared-down deal.

A day after Congress approved an agreement to avoid the cliff, some Democrats said Mr. Obama had missed his best opportunity to strike a broader deal to raise revenue, cut spending and avert a looming battle over the government's...